China's domestic lithium refineries have been actively inquiring for lithium ore, with most initiating procurement inquiries and locking in cargoes one to two months in advance. At this stage, traders' lithium ore inventories have been destocking for several consecutive weeks and now stood at low levels, and the sources became increasingly concentrated among leading channels.
In the lithium carbonate market, prices fluctuated widely last week amid rumors surrounding Zimbabwe's export ban, though volatility narrowed toward weekend. Once there is clarity on when the Zimbabwe export ban will be lifted, the market will reassess its Q2 supply outlook, at which point a clearer price direction is expected to emerge.
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